The Reserve Bank of India issued Directions to Padmashri Dr. Vithalrao Vikhe Patil Co-operative Bank Limited, Nashik, Maharashtra under Section 35A read with Section 56 of the Banking Regulation Act, 1949 vide Directive DCBS.CO.BSD-I/D-7/12.22.395/2017-18 dated May 18, 2018 for a period of six months, the validity of which was extended up to May 17, 2023 vide Directive DOR.MON.D-76/12.22.395/2022-23 dated February 16, 2023.

2. The Reserve Bank of India is satisfied that in the public interest, it is necessary to extend the period of operation of the Directive No. DCBS.CO.BSD-I/D-7/12.22.395/2017-18 dated May 18, 2018, issued to Padmashri Dr. Vithalrao Vikhe Patil Co-operative Bank Limited, Nashik, Maharashtra as modified from time to time, last being vide Directive DOR.MON.D-76/12.22.395/2022-23 dated February 16, 2023. Accordingly, the Reserve Bank of India, in exercise of the powers vested in it under sub-section (1) of Section 35A read with Section 56 of the Banking Regulation Act, 1949, hereby directs that the Directive DCBS.CO.BSD-I/D-7/12.22.395/2017-18 dated May 18, 2018, issued to Padmashri Dr. Vithalrao Vikhe Patil Co-operative Bank Limited, Nashik, Maharashtra the validity of which was last extended up to May 17, 2023 vide Directive DOR.MON.D-76/12.22.395/2022-23 dated February 16, 2023, shall continue to apply to the bank for a further period of three months from May 18, 2023 to August 17, 2023 vide Directive DOR.MON.D-24/12.22.395/2023-24 dated May 16, 2023 and is subject to review.

3. All other terms and conditions of the Directives under reference shall remain unchanged.

(Yogesh Dayal)     
Chief General Manager

Press Release: 2023-2024/243